CRIBIS Credit Management, NPL Special Servicer, obtains an upgrade of its Fitch ratings to RSS2+, CSS2+ and ABSS2+
Fitch Ratings has upgraded the ratings of CRIBIS Credit Management - the CRIF Group company specializing in the outsourced management of collection processes and NPL management - as a Special Servicer for Residential, Commercial, and Asset-Backed activities.
This important recognition was achieved in three different areas of activity:
- RSS2+ Residential Special Servicer: residential mortgage-backed securities
- CSS2+ Commercial Special Servicer: commercial mortgage-backed securities
- ABS2+ Asset-backed Special Servicer: secured or unsecured securitized assets
The rating agency performed an assessment of the company’s financial conditions and measured the ability of CRIBIS Credit Management to withstand adverse market conditions and manage the overall volumes of assets under management (AUM).
In particular, Fitch Ratings identified the following strengths of CRIBIS Credit Management:
- Enhancement of its special-servicing procedures
- Growing and steady increase in total Assets Under Management (AUM), especially in the residential and asset-backed segments
- Strong operational and strategic synergies with the parent company CRIF
- Significant management experience in servicing, banking, and law
- Comprehensive and varied training with in-depth courses and learning paths tailored to employee aspirations through a new training platform which enables monitoring
- Sound and automated credit management processes and controls with dedicated personnel in charge of reporting
- Robust monitoring process, strengthened by the Compliance department
- Efficient monitoring and updating of business plans, including regular reviews and automated reminders
- CRIF expertise supports the business in the collection, enrichment, and processing of data in the management stage according to appropriate strategies
- Robust IT infrastructure with enhanced technical support
- Investments in robotics technology to streamline the most repetitive processes
- Effective disaster-recovery and business-continuity plans during the pandemic
The rating results were published by Fitch Ratings on the agency website.